Kaynes Technology, one of the leading electronics manufacturing services companies, has announced plans to raise up to ₹1,600 crore through a Qualified Institutional Placement (QIP), according to a report by CNBC-TV18.
The QIP issue will be offered in the price band of ₹5,344 to ₹5,612 per share, implying a discount of up to 4.8% from the current market price. The final floor price will be determined in accordance with SEBI guidelines.
This capital raise aligns with Kaynes Technology’s strategic growth plans, which include capacity expansion, R&D investment, and working capital needs to support its domestic and international contracts.
In the meantime, Kaynes Technology shares closed at ₹5,600.00 today, marking a decline from the opening price of ₹5,737.00. The stock touched an intraday high of ₹5,756.00 and a low of ₹5,580.00. Over the past 52 weeks, the stock has seen a high of ₹7,822.00 and a low of ₹3,726.00.
